Dealing with the Pandemic Transforms Work-Life Culture
With the COVID-19 lockdown being relaxed in phases, companies are gearing up and re-aligning themselves to bag opportunities that are set to arise out of this pandemic scenario. The trends to emerge in the market post-COVID-19 pandemic will involve adding intelligence to products and convergence of technologies to ease the lifestyle or saving time, and increasing self-sustainability. Even before the lockdown was announced, market players see a huge demand in the Information & Communication Technology (ICT) products across different sectors. Chromebooks and laptops have started to move fast from the shelves. For instance, work from home efficiency surveys and industry’s voice claims increased productivity, backed by headlines of manifold increase of sale of ICT and non-essential goods with e-commerce are some examples of the hour. Pandemic Global Supply Chain Disruption Though the global PC shipments saw a minuscule growth last year, the highest in the last 7 years, this revamp sets to increase the demands of products, specifically notebooks, work stations, conferences, networking, and allied devices, higher rate. By 2023, the global traditional ICT market is projected to have a sustained growth to reach $4.4T, while the ICT with newer technologies is witnessed to grow at 6 times faster to reach $1.3T at a rate of 15.8% CAGR. This spike in newer technologies for ICT devices is due to emerging technologies and increased adoption of IoT, AI, robotics, augmented, and virtual realities. However, the unsettling trade war between the world’s largest consumer of ICT products and the largest exporter has begun disrupting the manufacturing supply chain.  India’s ICT Hardware Manufacturing India, one of the fastest-growing ICT markets, is projected to reach $144B by 2023, growing at a rate of 7.2% CAGR. Some of the key initiatives, such as Digital India, are creating faster adoption of emerging technologies due to its young population are some key factors fostering this growth in this sector. The digital innovation hub of the world with the largest global outsourcing market share of over 55% and fast-growing exporter of computer hardware with the growth of 14.78% CAGR in the last couple of years, India is well-positioned to transform into the next ICT hardware manufacturing hub in the years to come. The “Make in India” and “Vocal for Local” initiatives, along with the announcement of much-awaited Government of India’s incentive schemes such as Production Linked Incentives (PLI), Scheme for Promotion of Manufacturing of Electronics Components and Semiconductors (SPECS), and Electronics Manufacturing Cluster 2.0 are a great step. This, along with India’s distinct advantages such as skilled workforce, competitive labor costs, proven prowess in design, and development of complex software, will help boost India’s ICT hardware manufacturing industry, including the component ecosystem. Backed by 40 Years of Expertise We contribute our 40 years of design and manufacturing expertise spanning multiple diverse markets. We look forward to discussing how we can deliver world-class products for OEMs across the globe. We understand our home Indian market, familiar with its vast regulatory and selling environments. We foster growth opportunities within India through our strong technology incubation ecosystem. We also assist global OEMs in entering the Indian market by leveraging the local supply chain and favorable operating environments for cost reductions. Our flagship Chennai location opened in 2006 and lies within a Special Economic Zone (SEZ) for electronics manufacturing, offering economic incentives for imports and exports. This primary facility is within 90 minutes of the Chennai seaport and 20 minutes to the international airport. Additional road and rail connectivity links to the rest of India and beyond and infrastructure advantages with faster import and export clearances. We also have labor force flexibility, both technical and manual, to scale to demand rapidly. To learn more about this topic, please contact us.